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Statutory Trust account

Our Statutory Trust Accounts help you comply with statutory requirements.

Trust accountsBank updated 28 Oct 2026
Product page ↗Fees and pricing ↗Terms ↗

At a glance

Monthly fee
$0

Fees

11 fees published, grouped by when they're charged.

While you hold it1

  • Account Keeping Fee
    No fee

When you make a transaction6

  • Cheques Collected / Deposited
    $3
  • Self-Service (Electronic) Deposits
    No fee
  • Staff-Assisted Deposit
    $3
  • Periodical Payments
    No fee
  • Self-Service (Electronic) Withdrawals
    No fee
  • Staff-Assisted Withdrawal
    $3

When particular things happen4

  • Cheques Written
    $3
  • Group Telephone Banking
    No fee
  • Online Banking

    Account enquiries are always free when you use Online Banking.

    No fee
  • Overdrawn Fee

    $15.00 per occurrence

    $15

Features

Guarantor optionDigital bankingFraud protection
  • If your business is a solicitor's office, real estate agency, collection agent (QLD), conveyancer or settlement agent (WA), you may be required by law to deposit funds held on behalf of your clients,…
  • Helps you comply with statutory requirements when holding clients' funds in trust
  • Statutory Trust for Real Estate Agents account is suitable for real estate agents (in all states) and collection agents (in Queensland)
  • Statutory Trust for Solicitors account is suitable for solicitors
  • Statutory Trust for Conveyancers and Settlement Agents account is suitable for conveyancers (all states) and settlement agents (in Western Australia)

Eligibility and limits

  • Minimum age 18
  • Operating in Australia with an Australian address
  • Must be a member of a professional association and required by law to deposit funds held on behalf of clients in statutory trust accounts
  • Needs an eligible business transaction account from which fees and charges can be debited.

Put this product through a calculator

Published by Westpac under the Consumer Data Right, last changed by them on 28 Oct 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.